updated 11/22/2006 8:27:15 AM ET 2006-11-22T13:27:15

Some bondholders of bankrupt airline Delta Air Lines Inc. have begun organizing an informal group to support US Airways Group Inc.'s $8.78 billion takeover offer, the Wall Street Journal reported on its Web site on Wednesday.

That could help the bid overcome initial opposition from the Atlanta carrier's management and skepticism from some of its larger creditors, the paper said.

In conference calls yesterday with Deutsche Bank AG and Lehman Brothers Holdings Inc., bondholders were urged to band together to pressure Delta to fully consider the bid from US Airways, the paper said.

The effort by both banks, which are Delta creditors, is aimed at creating a second group of creditors with some say in the airline's restructuring, it said.

(c) Reuters 2006. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com